Ameraudi Asset Management Inc. Acquires New Position in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Key Points

• Ameraudi Asset Management Inc. has purchased a new stake in AST SpaceMobile, Inc., acquiring 10,100 shares valued at approximately $230,000 in the first quarter.
• Institutional investors own **60.95%** of AST SpaceMobile, with major players such as Vanguard Group increasing their holdings significantly during the previous quarters.
• A number of analysts issued reports with a consensus target price of $45.34, indicating a generally positive outlook, despite the stock recently experiencing a 9.5% decline.

Ameraudi Asset Management Inc. bought a new stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,100 shares of the company's stock, valued at approximately $230,000.

Several other hedge funds also recently added to or reduced their stakes in ASTS. Vanguard Group Inc. grew its holdings in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after acquiring an additional 4,955,941 shares during the period. Alphabet Inc. acquired a new stake in AST SpaceMobile during the first quarter worth about $203,375,000. Geode Capital Management LLC grew its holdings in AST SpaceMobile by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after acquiring an additional 229,759 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in AST SpaceMobile during the fourth quarter worth about $59,523,000. Finally, Northern Trust Corp boosted its position in AST SpaceMobile by 8.8% during the fourth quarter. Northern Trust Corp now owns 1,233,056 shares of the company's stock worth $26,017,000 after purchasing an additional 100,153 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ASTS. Scotiabank restated a "sector perform" rating and issued a $45.40 target price on shares of AST SpaceMobile in a research report on Monday, June 23rd. Oppenheimer assumed coverage on AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating on the stock. Roth Capital assumed coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective on the stock. Bank of America assumed coverage on AST SpaceMobile in a research report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price objective on the stock. Finally, B. Riley reiterated a "buy" rating and set a $44.00 price objective (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.34.

Insider Activity

In other AST SpaceMobile news, CTO Huiwen Yao sold 4,250 shares of AST SpaceMobile stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $34.60, for a total transaction of $147,050.00. Following the completion of the sale, the chief technology officer owned 20,750 shares of the company's stock, valued at $717,950. This trade represents a 17.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction on Monday, June 9th. The shares were sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the completion of the sale, the president directly owned 545,595 shares of the company's stock, valued at approximately $19,450,461.75. The trade was a 8.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,250 shares of company stock valued at $6,146,750. Insiders own 41.80% of the company's stock.

AST SpaceMobile Trading Down 0.2%

Shares of ASTS traded down $0.11 during trading hours on Monday, hitting $54.22. The stock had a trading volume of 8,052,264 shares, compared to its average volume of 10,845,540. The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.62 and a current ratio of 10.62. The firm has a market cap of $17.16 billion, a P/E ratio of -27.25 and a beta of 2.27. The company's fifty day simple moving average is $41.42 and its 200 day simple moving average is $30.74. AST SpaceMobile, Inc. has a 12-month low of $16.98 and a 12-month high of $60.95.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. Equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.